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you said you would cut the deficit in half hour. we still have $1 trillion deficits. the cbo says we'll have $1 trillion deficit for the next four years. you said before you would cut the deficit in half, and i lot of this idea $4 trillion in cuts. you found $4 trillion in ways to reduce or to get closer to a balanced budget, except we still show $1 trillion deficits every year. that doesn't get the job done. let me come back and say why is it that i don't want to raitaxe? i don't want to raise tack on people. you said it back in 2010 where you said, look, i'm going to extend the tax policies that we have. i'm not going to raise tacks on anyone because when the economy is growing slee sloe like this, when are you in recession, you shouldn't raise taxes on anyone. well, the economy is still growing slow. as a matter of fact, it's growing much more slowly now than when you made that statement. so if you believe the same thing, you just don't want to raise taxes on people, and the reality is it's not just wealthy people. you mentioned donald trump. it's not just donald t
you said you would cut the deficit in half hour. we still have $1 trillion deficits. the cbo says we'll have $1 trillion deficit for the next four years. you said before you would cut the deficit in half, and i lot of this idea $4 trillion in cuts. you found $4 trillion in ways to reduce or to get closer to a balanced budget, except we still show $1 trillion deficits every year. that doesn't get the job done. let me come back and say why is it that i don't want to raitaxe? i don't want to raise...
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my plan is not to put in place any tax cut that will add to the deficit. >> ali velshi, whose pants are on fire? >> there were two distinct points here. one the 4.9 trillion is the real number that president obama called $5 trillion. there are going to be tax cuts because mitt romney proposes to cut 20% off everybody's taxes across the board. >> not 5 trillion. >> but it adds up to 4.9 the ten years that the number the president was citing. that assumes no revenue coming from anywhere else. mitt romney says that is not the right assumption. if i cut taxes across the board and more money into piedmont acre pockets and spend more and have a lower tax rate and have more jobs and more own. >> stimulate the economy. >> and more money will come in. >> that is where the disagreement was. >> mitt romney does have some plans for cutting loopholes and some of these -- >> right. . he says we cut taxes and close loopholes and it becomes revenue neutral and president cited another studying saying you have to raise taxes on the middle class. that is why this becomes so hard to fact check one of these
my plan is not to put in place any tax cut that will add to the deficit. >> ali velshi, whose pants are on fire? >> there were two distinct points here. one the 4.9 trillion is the real number that president obama called $5 trillion. there are going to be tax cuts because mitt romney proposes to cut 20% off everybody's taxes across the board. >> not 5 trillion. >> but it adds up to 4.9 the ten years that the number the president was citing. that assumes no revenue coming...
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mitt romney also talked about the deficit last night. and he claims that even with his tax cut, he will not add to the defici deficit. >> my number one principle is there will be no tax cut that adds to the deficit. i won't put in place a tax cut that adds to the deficit. that's part one. so there's no economist that can say mitt romney's tax plan adds $5 trillion if i say i will not add to the deficit with my tax plan. my plan is not to put in place any tax cut that will add to the deficit. >> the problem in both of these claims is a lack of specifics. what the president is assuming, the reason we said false on his claim, he basically is assuming if he just did a tax cut and nothing else, then it would include this giant amount of tax breaks for people out there. but that's what mr. romney is saying he won't do. he's saying he has all these specifics in terms of cutting deductions, finding ways of closing loopholes so that people would pay more and there wouldn't be this giant tax cut but he wouldn't say what that would be. this lack of
mitt romney also talked about the deficit last night. and he claims that even with his tax cut, he will not add to the defici deficit. >> my number one principle is there will be no tax cut that adds to the deficit. i won't put in place a tax cut that adds to the deficit. that's part one. so there's no economist that can say mitt romney's tax plan adds $5 trillion if i say i will not add to the deficit with my tax plan. my plan is not to put in place any tax cut that will add to the...
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you need to take account of the fiscal deficit, which cannot go like that anymore, and the same thing with the external deficit, and that will require, of course, some adjustments, and nobody wants adjustments. people want miracles. in economics you don't have miracles. you just have good policy and hard work. >> are you encouraged by the policies that you are now seeing from both the europeans and the americans, or really do you sit here thinking more, more please? >> we're not impressed because i think that we have lost the last three years. since the crisis that started in 1988 -- 1998 and 1999, we knew we have not been able to tackle the real causes of the crisis. it has not been done in europe. it has not been done in the u.s. we are talking too much and doing too little. >> now, if this was any leader in latin america, perhaps people would ignore him, but this is the president that's running strong free market economies and policies, and that's why when somebody like this harvard ph.d. economist speaks, president as well, suzanne, people listen. of course, it reinforces what cou
you need to take account of the fiscal deficit, which cannot go like that anymore, and the same thing with the external deficit, and that will require, of course, some adjustments, and nobody wants adjustments. people want miracles. in economics you don't have miracles. you just have good policy and hard work. >> are you encouraged by the policies that you are now seeing from both the europeans and the americans, or really do you sit here thinking more, more please? >> we're not...
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we need to use the savings from ending the wars in iraq and afghanistan to help pay down our deficit and put people back to work, doing me nation building right here at home. that's the agenda we need. that's how you strengthen the middle class. that's how you keep moving forward. that is the choice in this election and that's why i'm running for a second term. that's what we need. now, my opponent, you know, has been trying to do a two-step and reposition and got an extreme makeover. but -- but the bottom line is his underlying philosophy is the topdown economics that we have seen before. he thinks if we just spend another $5 trillion on tax cuts, that, yes, skewed toward the wealthiest, if we get rid of more regulations on wall street, then our problems will be solved. jobs and prosperity will rain down from the sky, the deficits will magically disappear, we will live happily ever after. even though he's been proposing this plan for months now, he's had a lot trouble explaining how it would work without boring a hole in the deficit, or making middle class families pick up the tab,
we need to use the savings from ending the wars in iraq and afghanistan to help pay down our deficit and put people back to work, doing me nation building right here at home. that's the agenda we need. that's how you strengthen the middle class. that's how you keep moving forward. that is the choice in this election and that's why i'm running for a second term. that's what we need. now, my opponent, you know, has been trying to do a two-step and reposition and got an extreme makeover. but --...
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deficits will magically disappear. we'll live happily ever after. even though he's been proposing this plan for months now, he's running into a little trouble explaining how it would work without blowing up the deficit or making it work for middle class families. the other night, he ruled out asking millionaires and billionaires to pay a dime more in taxes. he said no way he was going to close loopholes that are given big oil companies billions of dollars each year in corporate welfare. ending tax breaks for corporations that are shipping jobs overseas and profits overseas, he said he never heard of such a thing, never heard of it. who knew, he said. he acted shocked. said he needs a new accountant. his current accountant is doing just fine. >> president obama, already on the attack here, what are we a month and a day until the november 6th election, speaking in a rainy cleveland state university, talking about his opponent, mitt romney, accusing him of tap dancing, tap dancing a little bit, mentioned what we heard, mitt romney mentioned the other n
deficits will magically disappear. we'll live happily ever after. even though he's been proposing this plan for months now, he's running into a little trouble explaining how it would work without blowing up the deficit or making it work for middle class families. the other night, he ruled out asking millionaires and billionaires to pay a dime more in taxes. he said no way he was going to close loopholes that are given big oil companies billions of dollars each year in corporate welfare. ending...
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and you heard the president last night describe how he plans on reducing the deficit. he said it was $4 trillion but only in washington would you count $4 trillion of reduction when, in fact, his plan calls for adding a trillion dollars of debt every one of the next four years. the congressional budget office says that by the end of a four-year period if he were to be reelected trickle down government could lead to a setting of $20 trillion in debt. i think that's wrong. i think we shouldst inom finly america to cap our spending, to cut our spending and get us on track to a balanced budget. and it's -- it's not often i'm told that republicans are able to go out and talk about medicare with such passion as we do but let me tell you. when someone is taking $716 billion away from our current seniors in their medicare plan to pay for obama care, we say no way. we'll put it back and get rid of obama care. and then, and then there's our military. the president has proposed cutting our military budget and then the sequestration idea that came out of the white house cuts our m
and you heard the president last night describe how he plans on reducing the deficit. he said it was $4 trillion but only in washington would you count $4 trillion of reduction when, in fact, his plan calls for adding a trillion dollars of debt every one of the next four years. the congressional budget office says that by the end of a four-year period if he were to be reelected trickle down government could lead to a setting of $20 trillion in debt. i think that's wrong. i think we shouldst...
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how specifically will you bring down the deficit? there's certainly a lot of room to put some and a lot of imptous for them to put some meat on the bones. >> okay. as we look for the meat, let's talk about something we've talked about that before that being swing states. romney has really whittled the president's lead to two percentage points. these are virginia numbers now. this is a poll released by "the wall street journal" nbc news, so a two-point lead for obama down from five points last month. let me show you one more graphic. you're going to see florida numbers. similar story there. now a one-point lead for obama. down from four points in september. could, candy, could this debate tonight really, you know, represent romney's best chance to catch fire? >> certainly. and i don't think it's his best chance. i think it's the beginning of his best chance, if that makes sense. i don't think we've seen -- we have seen times when debates have changed things. but there still is a lot of time and two more debates for these guys plus a v
how specifically will you bring down the deficit? there's certainly a lot of room to put some and a lot of imptous for them to put some meat on the bones. >> okay. as we look for the meat, let's talk about something we've talked about that before that being swing states. romney has really whittled the president's lead to two percentage points. these are virginia numbers now. this is a poll released by "the wall street journal" nbc news, so a two-point lead for obama down from...
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we've seen trillion dollar deficits. the road this president has put us on looks like europe. europe isn't working in europe. it will never work here. look, the president -- if he is re-elected, this president is going to have trillion dollar deficits every year. we would end up with about a $20 trillion debt. it's about $150,000 a family. you don't see that money. you don't see that debt, rather, but you're going to be paying the interest on it all your lives, and then your kids are going to be paying for it, and you're going to wonder why this government is taking so much, and a lot of it is just to pay for the interest on all this debt we're racking up. that's the wrong way to go. he would also take us down a path like europe which means chronic high unemployment. they have high levels of unemployment and low wage growth. their countries, as you know, are on the verge of fiscal collapse or fiscal cal amity or crisis. that's the path that he is taking us on. i'll take us on a very different course. i will help create 12 million new jobs and rising take-home pay. >> mitt romn
we've seen trillion dollar deficits. the road this president has put us on looks like europe. europe isn't working in europe. it will never work here. look, the president -- if he is re-elected, this president is going to have trillion dollar deficits every year. we would end up with about a $20 trillion debt. it's about $150,000 a family. you don't see that money. you don't see that debt, rather, but you're going to be paying the interest on it all your lives, and then your kids are going to...
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the romney campaign is firing back as in, hey, a humongous deficit is not patriotic. >> this is a land where economic freedom has allowed people to pursue their dreams and in doing so and achieving success, they lift us as a nation, they give us jobs, i will not apologize for success here and i will never apologize for america abroad. >> how's that for economic patriotism, whatever that is? so the talk back question for you this morning, is there such a thing as economic patriotism, facebook.com/carolcnn, your responses later this hour. >>> when we think of bounties in footll now we think of the new orleans saints. saints' head coach, sean payton is on the golf course instead of the football field this season after the nfl suspended him for his role in bountygate. a former assistant of another team says his players were offered cash for big hits on opponents. these weren't nfl players. they were 10 year-olds. here's casey wian. >> reporter: the 2011 red cobra's pop warner football team went undefeated in the regular season. >> this was a team that knew it was on the verge of greatness
the romney campaign is firing back as in, hey, a humongous deficit is not patriotic. >> this is a land where economic freedom has allowed people to pursue their dreams and in doing so and achieving success, they lift us as a nation, they give us jobs, i will not apologize for success here and i will never apologize for america abroad. >> how's that for economic patriotism, whatever that is? so the talk back question for you this morning, is there such a thing as economic patriotism,...
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the last time anyone came back from a four-point deficit was in 1999 and that was on home soil. and that was a stunning final day then. but for the europeans to come over to the american soil and to achieve this victory, it's truly historic. it was not expected at all. the americans looked like they were going to be racing favorites and certainties on the final day. all they needed from a possible 12 points was 4 1/2. they only managed 3 1/2. so it was left to the europeans to lead from the front, leading by example with an incredible spirit and an incredible belief. and they won the first five matches. and the united states could not respond. tiger woods had a very poor week here and, indeed, the who american team were left dumb struck on the final day after combining so well on the first tw days and displaying wonderful team spirit. but it did not fire at all on the last day. >> i didn't know golfers could get that excited. talk about amazing. let's talk about rory mcilroy, he won a big match, but he almost missed his tee time, which is, of course, kind of embarrassing. >> rep
the last time anyone came back from a four-point deficit was in 1999 and that was on home soil. and that was a stunning final day then. but for the europeans to come over to the american soil and to achieve this victory, it's truly historic. it was not expected at all. the americans looked like they were going to be racing favorites and certainties on the final day. all they needed from a possible 12 points was 4 1/2. they only managed 3 1/2. so it was left to the europeans to lead from the...
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or if i can figure out if it adds up and not add up to the federal deficit. i think president obama needs to make his points very clear and concise and not try to give us too many soundbytes. first of all, he should say my policies helped to end the greatest economic disaster since the great depression. then, number two, he should stress that we've created more than five million jobs. those job numbers have been revived, of course. the president needs to be clear that his policies and the policies that he has proposed to congress that congress will not deal with because they're more focused on theron re-election and not focused on getting the american people back to work. he said his policies will continue to bring about jobs. it will fasten economic growth in this country, and that he has a plan to deal with the federal deficit as well. i think the president can say that. >> as long as we don't have a wardrobe malfunction, we're good. >> we'll keep it rated g. anna, what are some of the pit falls that romney has to avoid here, because, you know, both candida
or if i can figure out if it adds up and not add up to the federal deficit. i think president obama needs to make his points very clear and concise and not try to give us too many soundbytes. first of all, he should say my policies helped to end the greatest economic disaster since the great depression. then, number two, he should stress that we've created more than five million jobs. those job numbers have been revived, of course. the president needs to be clear that his policies and the...
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president, you said you would have the deficit and have a plan to pay down our debt within your first term and you haven't donso. so why should we trust you to keep your promise in your second term. from joe, to both, when will either of you stop worrying about your parties and start worrying more about our nation? facebook.com/carolcnn. keep the conversation going. ♪ [ male announcer ] introducing the all-new completely re-imagined 2013 chevrolet malibu. sleek new styling... sophisticated dual cockpit design, and sport sculpted seats. available chevrolet mylink infotainment system. the all-new 2013 chevrolet malibu. ♪ refined comfort to get you in a malibu state of mind no matter what state you live in. ♪ >>> today is the last day of baseball's regular season. we know all the playoff teams, but not all the division winners. the oakland a's and texas rangers play today to decide the a.l. west champs. the a's won last night to pull into a tie for a top of the division. oakland was 13 games back of texas on june 30th. the a's clinched a wild card spot. the baltimore orioles are as
president, you said you would have the deficit and have a plan to pay down our debt within your first term and you haven't donso. so why should we trust you to keep your promise in your second term. from joe, to both, when will either of you stop worrying about your parties and start worrying more about our nation? facebook.com/carolcnn. keep the conversation going. ♪ [ male announcer ] introducing the all-new completely re-imagined 2013 chevrolet malibu. sleek new styling... sophisticated...
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but, those who support obama say the president is more likely to reduce the deficit, to cut entitlement spending like social security, but once again, just not a lot of excitement for either person. which is kind of sad. >> let's talk about excitement on the dow. let's show the stocks because they have been rallying since this morning, what is it -- up 121 points now. got a pretty important report on the manufacturing sector. what do we need to know? >> so what we got was the granddaddy of manufacturing reports and what it showed is that manufacturing is back in expansion territory, the sector is growing again. that could help boost the economy. this is notable because it comes after three months of contraction in manufacturing. also, you look at china, manufacturing in china, in europe, it is going backwards it contracting. sobucking the trend. a good surprise for the u.s. manufacturing is what helped get us out of the recession in 2009. we saw activity picked up, hiring picked up. we saw the trend continuing. we want to see that continue to help the economy move forward. with a lot mo
but, those who support obama say the president is more likely to reduce the deficit, to cut entitlement spending like social security, but once again, just not a lot of excitement for either person. which is kind of sad. >> let's talk about excitement on the dow. let's show the stocks because they have been rallying since this morning, what is it -- up 121 points now. got a pretty important report on the manufacturing sector. what do we need to know? >> so what we got was the...